9. The following data show the combinations of output of cars and co computers. TIT Combination Computers Cars 3000 2200 600 2000 1000 700 D 900 E 1000 a) Draw a production possibilities frontier (PPF) for computers and cars output. Keep the cars on X-axis. (Graph should be properly labelled) b) Briefly explain why it most likely has a bowed-out shape. e) Show a point of output that is certainly impossible for the society to achieve. Show a point on production possibility frontier that is achievable but inefficient, d) Show graphically the impact on PPF of technology advancement in the form of assembly line of cars production (Graph should be properly labelled) Show graphically the impact on PPF of the newly discovered input used inputs for both cars e) and computers.

9. The following data show the combinations of output of cars and co computers. TIT Combination Computers Cars 3000 2200 600 2000 1000 700 D 900 E 1000 a) Draw a production possibilities frontier (PPF) for computers and cars output. Keep the cars on X-axis. (Graph should be properly labelled) b) Briefly explain why it most likely has a bowed-out shape. e) Show a point of output that is certainly impossible for the society to achieve. Show a point on production possibility frontier that is achievable but inefficient, d) Show graphically the impact on PPF of technology advancement in the form of assembly line of cars production (Graph should be properly labelled) Show graphically the impact on PPF of the newly discovered input used inputs for both cars e) and computers.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 3CQQ

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